Agenda item

Financial Monitoring (00-51-34)

Meeting of Cabinet, Thursday, 26th October, 2017 2.15 pm (Item 70.)

To receive a report of the Director of Finance, Assets and Resources presenting a financial update in respect of the income and expenditure so far in the year.

Minutes:

The Cabinet had before it a * report of the Director of Finance, Assets and Resources presenting financial monitoring information for the income and expenditure for the financial year 2017/18.

The Cabinet Member for Finance outlined the contents of the report stating that the General Fund deficit for the current year was £181K (an increase of £108k since the last variance of £73k was reported). He highlighted the most significant movements during that period:

Vacant posts in Environmental Services	(£36k)
Net overspend forecast in Grounds maintenance	£43k
3 Rivers Development set-up costs	£20k
Salary underspend in Property services net of agency costs	(£21k)
Reduced income / increased costs in Market Walk	£50k
Recycling income	(£20k)
Utilities and maintenance in Leisure Facilities greater than budget	£58k
Planning fees above budget, partially offset by increased costs in Forward Planning	(£70k)
Development Control staff savings reported in July now expected to be spent in latter part of the year	£33k

The Housing Revenue Account was showing a rent shortfall but it was reported that this had improved in the last week.

The Capital Programme showed some slippage, however it was explained that as part of the wider enhancement works being carried out at Exe Valley Leisure centre, some essential maintenance work to refurbish the dry side changing rooms, disabled toilets and shower rooms programmed for the following year be delivered in conjunction with the works that were taking place at the current time.

RESOLVED

a) The report be NOTED;

b) A sum of £45k be brought forward in order to refurbish the dry side changing rooms, disabled toilets and shower rooms at Exe Valley Leisure Centre.

(Proposed by Cllr P H D Hare-Scott and seconded by Cllr Mrs M E Squires)

Note: *Report previously circulated copy attached to minutes

Supporting documents: